Avidian Drills 67 m of 4.93 g/t Au at Golden Zone Property, Alaska & Discovers New Zone Northeast of the Breccia Pipe Deposit
OREANDA-NEWS. Avidian Gold Corp. (TSXV:AVG) (the “Corporation” or “Avidian”) is pleased to report the results from its 2017 drilling program at the 100% owned Golden Zone project, Alaska. Highlight results include:
- 2017 drill intersections in and within the immediate vicinity of the Breccia Pipe Deposit include:
• 67 m of 4.93 g/t Au (sulphide breccia)
• 70.6 m of 2.03 g/t Au (silica breccia)
• 28 m of 2.19 g/t Au (sulphide breccia)
• 50 m of 0.73 g/t Au (host monzodiorite intrusive)
• 64 m of 0.65 g/t Au (BLT shear zone)
- The latter two intersections occur outside the presently defined mineral resource.
- 2017 drilling discovered a previously unknown mineralized conglomeratic unit in hole GZ17-10 approximately 300 m northeast of the Breccia Pipe Deposit; this unit returned 21.6 m of 1.46 g/t Au, is open in all directions and represents a new mineralized stratigraphic target.
- A 2017 drill hole at the Riverside occurrence returned multiple intercepts of > 1 g/t Au along with 3.4 m of 4.23 g/t Au (including 1.0 m of 12.2 g/t Au) associated with a quartz feldspar porphyry that can be traced over 1 km in length that has not been drill tested.
Dino Titaro, President & CEO states: “Despite over 26,000 m of historical drilling, most of which has been focused along a 300 m strike length (on the Breccia Pipe Deposit) of an 8 km long mineralized trend, the results from the 2017 initial drill program show that: i) the mineral resource of the deposit has not been completely drill evaluated and remains open at depth and along strike; 2) the porphyry body hosting the deposit is mineralized and has not been adequately drill tested as it remains open in all directions; and 3) additional gold mineralization occurs within the immediate vicinity of the deposit that could expand the current mineral resource. Additionally, new mineralization was encountered in a drill hole located approximately 3 km north of the deposit.
Of high significance is the discovery of disseminated mineralization in hole GZ17-10 within a conglomeratic unit; this could not only expand the current resource, but it also demonstrates that this style of mineralization has been under-appreciated given the large amount of conglomerates on the property, some of which were highlighted in the recent press release of January 15, 2018, that are known to carry gold plus base metal mineralization. This style of mineralization represents a new property wide target for a replacement type deposit model.”
The 2017 drill program consisted of eleven core holes for a total 2,578 m. Avidian drilled seven holes within and immediately adjacent to the conceptual resource pit outlined used for the 2016 NI 43-101 resource estimate, one hole 300 m north (Mayflower Trend) of the Breccia Pipe Deposit in an area where no drilling has been previously undertaken, two holes at the Bunkhouse occurrence and one hole at the Riverside occurrence (see Figure 1 for hole locations).